How Banks Need to Rethink Their Approach to Cybersecurity

The financial industry is beginning to recognize that cybersecurity is no longer a part of the information technology department but has greater importance throughout the entire business workflow. As the growing complexity of cyber threats continues to pose serious risks for financial institutions, robust compliance and risk management platforms have become increasingly crucial to the protection of assets. While malware such as worms and viruses still pose an everyday threat to organizations, attacks that compromise Internet-of-Things (IoT) devices and ransomware are considerably larger dangers to critical data and processes.

To better combat and prevent these attacks, banks need to employ GRC platforms such as RSA Archer to assist in identifying critical business processes and the assets that support those processes. Additionally, a successful compliance management solution will enable banks to be able to monitor and assess their control standards and procedures to ensure protections and safeguards are being implemented effectively. GRC tools like Archer also provide banks with a bigger picture of attack activity and tie it to the specific business processes and assets that are being targeted through real time report metrics.

Financial institutions, as well as organizations across all industries, can no longer solely rely on IT departments to fix any holes in their defenses, they must track the flow of data across the enterprise and track the behavior of all components that interact with that data. CyberSheath employs security experts that are ready to provide you with a comprehensive assessment of your security policies and processes in addition to professional GRC implementation services for private and public corporations alike. We are the one stop shop for your cybersecurity needs! Click below to learn how to get started.